Venezuela has agreed to hand over at least seven oil fields
to little-known companies that will be paid to boost output through contracts
similar to ones rolled back under late socialist leader Hugo Chavez, according
to two sources and an internal document. The effort signals that President
Nicolas Maduro, who is struggling under a hyper-inflationary economic meltdown
and fast-declining oil output, is willing to reverse the aggressive efforts of
his predecessor - who died in 2013 - to expand the state’s role in the energy industry
of the OPEC nation .More…
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